Consumers in the market for a small car may want to make the leap in February as there are notable savings off MSRP on multiple models, including the 2016 Hyundai Elantra, according to TrueCar, Inc. (NASDAQ: TRUE).

Market demand has shifted toward crossover utility vehicles and automakers are focusing incentives on small, midsize and large sedans in order to increase their appeal with consumers.

"Presidents Day weekend typically kicks off the first sales event of the year," said Eric Lyman, TrueCar's vice president of industry insights. "The popularity of trucks and utilities is driving the market and is still growing, so we're seeing promotions aimed at creating sizable savings on cars. The small car segment is a great fit for consumers seeking high fuel efficiency paired with practicality."

In particular, the Ford Focus is transacting as much as 14 percent off MSRP, and the Toyota Corolla is available with zero percent financing for up to 60 months. The Mazda3 compact also has no-interest financing for up to 36 months. Volkswagen is offering a special lease promotion of $139 for 36 months on its Jetta model.

Last year, the non-premium compact utility segment trumped the non-premium compact car segment in sales for the first time. This trend should continue in 2016.

"This year we're expecting small crossover and utility vehicles to outpace the compact car segment for a second-consecutive year," said Stacey Doyle, TrueCar's senior industry analyst. "However, small cars remain well-liked by many consumers and are still a high-volume contributor to the industry. Last year nearly one out of every seven sales was a vehicle from this segment."

A snapshot of some of the best savings (compared to MSRP) on new vehicles in February 2016:

Year/Make/

Model/Trim

Segment

MSRP

Market Average

$ Savings /

% Savings

Est. Monthly Payment*

City / Hwy / Comb MPG

2016 Jeep Compass, Sport FWD

Small Utility

$20,590

$17,144

$3,446/ 16.7%

$205

23/30/26.4

2016 Ram 1500, Lone Star, Reg. Cab, 4X2, Std. Bed

Large Truck

$32,955

$28,108

$4,847/ 14.7%

$337

17/25/20.6

2016 Ford Focus, HB SE

Small Car

$19,890

$17,136

$2,754/ 13.8%

$205

30/42/35.6

2016 Hyundai Elantra

Small Car

$22,535

$19,721

$2,814/ 12.5%

$236

27/37/31.7

2016 Audi A4, 2.0T FWD Multitronic Premium

Luxury Car

$36,825

$32,242

$4,583/ 12.4%

$386

24/31/27.4

*Estimated monthly payments are based on a 2.5% APR for 72 months with 20% down on the current market average price, and excludes sales tax and other fees and charges that may vary by region or state. These examples are for informational purposes only, and are not offers to lend. See dealer/lender for details, including actual available offers.

"Market Average" is based on the national average of recent vehicle transactions, including destination and delivery charges after incentives that are subject to change. This does not include tax, title, licensing, documentation or processing fees, other state and governmental charges and/or fees or any other charges or fees allowed by law.

(The deal information summarized above is provided for illustrative purposes only, and is not an offer to lend. Results may vary depending on your individual circumstances, including credit approval by dealer/manufacturer. Deals are subject to change and are limited to inventory on hand. See your dealer/manufacturer for details, including actual offers available in your region.)

About TrueCar

TrueCar, Inc. (NASDAQ: TRUE) gives consumers transparent insight into what others paid and access to guaranteed savings off MSRP from TrueCar Certified Dealers. TrueCar's network of more than 10,000 trusted Certified Dealers is committed to providing upfront pricing information and a hassle-free buying experience. TrueCar powers car-buying programs for some of the largest U.S. membership and service organizations, including AARP, American Express, AAA, Sam's Club and USAA. Not all program features are available in all states. TrueCar is headquartered in Santa Monica, California, with offices in San Francisco and Austin, Texas. For more information about TrueCar and industry analysis please visit www.truecar.comand insights.true.com. Follow us on Facebook or Twitter.